Frequently Asked Questions about Short Term Income Protection Insurance (Also known as Accident Sickness and Unemployment Insurance)

General Questions

• What is Short Term Income Protection Insurance? (Also known as Accident Sickness and Unemployment Insurance)
• Why do you need Short Term Income Protection Insurance?
• How much will it cost?
• Will Short Term Income Protection Insurance pay out immediately when you make a claim?
• Are there any situations which would result in your claim being refused?

Is it really Short Term Protection Insurance you need?

• You want a lump sum if you were to die or become very seriously ill and could not work again. What sort of insurance do you need?
• You want to ensure that your monthly mortgage repayment is paid, if you became sick, unemployed or had an accident. What sort of insurance do you need?
• You want to ensure that you receive a monthly income if you became sick, unemployed or had an accident for as long as you were off work (i.e. no limit of 12 months). What sort of insurance do you need?

Aspects you have to make decisions about when Considering Short Term Income Protection Insurance

• How much should you insure for?
• How long should you insure for?
• For how long will the policy continue to provide income?
• Should you insure for accident and sickness or accident, sickness and unemployment?

Other

• Will a claim under a Short Term Income Protection insurance policy affect any State benefits to which you may be entitled?

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